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Weder, Mark - 2001

This paper entertains the notion that disturbances on the demand side play a central role in our understanding of the Great Depression. In fact, from Euler equation residuals we are able to identify a series of unusually large negative demand shocks that appeared to have hit the U. S. economy...

Persistent link: https://www.econbiz.de/10009614288

Neoclassical convergence versus technological catch-up : a contribution for reaching a consensus

Desdoigts, Alain - 2000

New macro empirical evidence is provided to assess the relative importance of object and idea gaps in explaining the world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing growthmodels: (i) the standard neoclassical growth model...

Persistent link: https://www.econbiz.de/10009583880

Complementarity of labor market institutions, equilibrium unemployment and the persistence of business cycles

Burda, Michael C.; Weder, Mark - 1999

This paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equililbriurn model econorny. Matching between workers and vacancies with endogenous search intensity, Nash-bargained wages, payroll taxation, and...

Persistent link: https://www.econbiz.de/10009580466

Complementarity of labor market institutions, equilibrium unemployment and the propagation of business cycles

Burda, Michael C.; Weder, Mark - 2001

This paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equilibrium model economy. Matching between workers and vacancies with endogenous time spent in search, Nash{bargained wages, payroll taxation, and...

Persistent link: https://www.econbiz.de/10009614292

Externalities in the matching of workers and firms in Britain

Burgess, Simon M.; Profit, Stefan - 1998

theory. For example, we find that conditional on local labour market conditions, high unemployment levels in neighbouring …

Persistent link: https://www.econbiz.de/10009576211

The empirical determinants of the Euro : short and long run perspectives

Chinn, Menzie David - 2000

is provided by a productivity-based model of the real value of the euro. Some panel regression estimates of the … relationship between intercountry relative productivity differentials and real exchange rates is presented. Using these estimates … to conduct some calculations, one comes to the conclusion that unless drastic changes to productivity trends occur, there …

Persistent link: https://www.econbiz.de/10009583879

Quantile hedging

Föllmer, Hans; Leukert, Peter - 1998

In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...

Persistent link: https://www.econbiz.de/10009574876

On model based seasonal adjustment procedures

Breitung, Jörg - 1998

In this note the unobserved component approach underlying the software package SEATS is compared with the Beveridge-Nelson type of decomposition for seasonal time series. The main strength of the SEATS approach lies in the appealing model formulation and the careful specification and adjustment...

Persistent link: https://www.econbiz.de/10009574877

The monetary model of the exchange rate : a structural interpretation

Moersch, Mathias; Nautz, Dieter - 1998

We emphasize the importance of properly identifying the long-run relations underlying the monetary model of the exchange rate. The separate estimation of long-run money demands leads to a "structural" error correction equation which allows an interpretation of the various channels affecting the...

Persistent link: https://www.econbiz.de/10009574885

Sequential versus independent commitment : an indirect evolutionary analysis of bargaining rules

Güth, Werner - 1998 - Rev.

Rational bargaining behavior depends crucially on the rules of bargaining, especially on whether parties decide sequentially or independently. Whereas in ultimatum bargaining the proposer can exploit the responder, independent commitments result in more balanced payoffs. To limit the scope of...

Persistent link: https://www.econbiz.de/10009574886

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